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- UK retail sales unexpectedly declined in December
UK retail sales unexpectedly declined in December
Office for National Statistics said, in the three months to December 2019, the quantity bought in retail sales decreased by 1.0% when compared with the previous three months. All sectors except household goods stores and fuel saw a decline in the quantity bought for the three-month on three-month movement; driven mainly by non-food stores at negative 1.0%.
The quantity bought in December 2019 fell by 0.6% when compared with the previous month; the fifth consecutive month of no growth. Economists had expected a 0.5% increase. The quantity bought in food stores fell by 1.3% for the monthly growth rate, which was the largest fall since December 2016, also at 1.3%. Online sales as a proportion of all retailing was 19.0% in December 2019, compared with the 18.6% reported in November 2019.
In annual terms, retail sales increased by 0.9% compared to a 0.8% increase in November. Economists had expected a 2.6% increase.
Comparing the three months to December 2019 against the same three months a year ago, growth in the quantity bought increased by 1.6% in December 2019, despite a strong decline of 2.2% for department stores.
After data release GBP/USD fell sharply, setting a new session low.
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